Future Of British Business
City of London Hopes for EU Thaw After Northern Ireland Deal
- EU ready to start talks over Memorandum of Understanding
- With equivalence unlikely, some push for bolder UK reforms
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UK Prime Minister Rishi Sunak’s deal to solve the bitter dispute with the European Union over Northern Ireland’s trading arrangements has sparked hope in the City of London that the two sides could finally formalize a pledge to work together on setting rules for banks and financial markets.
The so-called memorandum of understanding on financial rules may seem like a fairly low bar for such economically-tied neighbors. But in the recent history of post-Brexit relations, it would count for progress.